A conference call for investors and analysts will be held at 08:00 GMT this morning: access numbers are included at the end of this release. Man Group will announce its year-end results for the financial year on 28 May 2009.

Peter Clarke, Chief Executive of Man Group, said:

"This has been a very difficult year for global markets, and our business has not been immune. We have responded by focussing on preserving our strong investment management franchise, whilst also maintaining and building the firm's financial strength, both key differentiators in these markets. Our strong financial position is reflected in the intention to declare a maintained final dividend for the year.

“During the year we continued to see private investor demand for conservatively structured products offering transparency and liquidity, and which have demonstrated a track record of performance through these markets. Our long standing leadership in the managed futures style has provided both performance and liquidity, whilst the flexibility of our product range and wide geography of investor base have remained a key strength. In this way we have been able to maintain a pipeline of global and regional products, which is continuing over the coming months. However, we have seen a reduction in funds under management and many investors, particularly institutions, have sought liquidity regardless of performance and reduced their exposure to all asset classes.

“We are focussed on meeting the evolving investor requirements for hedge fund investing and I am very pleased to be announcing today the establishment of a new Man investment business. This unites Man's scale and expertise to provide transparent and flexible access to underlying investment styles through an industry leading managed account platform and tailor made products. Combining the components of Man's business and geography in this way creates a unique opportunity for our investors to access hedge fund investments in the format of their choice.

“We have also reviewed efficiency and costs across the business and have reduced fixed costs by $60 million for the coming financial year. Our leading position in the industry, together with the initiatives announced today, provides a solid platform for balanced and profitable growth in market share."

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